Single European Act 1986

Single European Act

An agreement among European Community members to gradually reduce tariffs and trade barriers with a goal of creating a Common Market in Europe. The Act aimed to unify trade and other laws among participating nations. It came into effect in 1987 and was replaced by the institutions of the European Union in 1993.

Single European Act 1986

(referred to popularly as the ‘1992’ initiative) an Act which extended the principles enshrined in the founding legislation of the EUROPEAN UNION with the objective of creating a ‘single market’ (by 1992) by the removal of various internal obstacles to the free movement of goods, services, capital and persons between the member states of the Union. Under the Act, the European Commission has submitted some 400 Directives for eliminating disparities between members in respect of physical, technical and fiscal rules and regulations, so as to create a unified Union-wide set of practices: for example, individuals and freight transport will be able to move across national frontiers without undergoing passport and customs checks; common technical specifications are to be introduced relating to product descriptions and design, health and safety standards, etc.; while VAT and other sales taxes are to be applied on a uniform basis. See EUROPEAN ECONOMIC AREA.

Single European Act 1986

(referred to popularly as the ‘1992 initiative’) an Act that extended the principles enshrined in the founding legislation of the EUROPEAN UNION (‘The Treaty of Rome’) with the objective of creating a ‘single market’ (by ‘1992‘ if possible) through the removal of various internal obstacles to the free movement of goods, services, capital and persons between the member states of the Union. Under the Act, the European Union has submitted some 400 directives for eliminating disparities between members in respect of physical, technical and fiscal rules and regulations so as to create a unified Community-wide set of practices: for example, individuals and freight transport will be able to move across national frontiers without undergoing passport and customs checks; common technical specifications are to be introduced relating to product descriptions and design, health and safety standards, etc., while VAT and other sales taxes are to be applied on a uniform basis.

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